Stocks in news: Emcure Pharma, Dixon Technologies, Ajanta Pharma, Godrej Properties, Vedanta

Markets witnessed a volatile session on Tuesday and ended in the green amid mixed cues. Technically, bulls are attempting to defend the lower band of the declining channel near the 23,000 level in the Nifty. However, mixed trends among heavyweight stocks continue to keep market participants uncertain about the next directional move. Analysts maintain a cautious stance on the index and recommend focusing on stock-specific trading opportunities until a clearer direction emerges.

In today's trade, shares of Emcure Pharma, Dixon Technologies, Ajanta Pharma, Godrej Properties, Vedanta, among others, will be in focus due to various news developments.

Emcure Pharma

Private equity investor BC Investments IV on Tuesday sold a stake worth Rs 612 crore in Emcure Pharma through a block deal, with a domestic mutual fund emerging as the buyer. According to NSE block deal data, BC Investments IV sold 36 lakh shares of Emcure Pharmaceuticals at Rs 1,700 per share. The transaction was valued at Rs 612 crore.

Ajanta Pharma
A promoter entity of Ajanta Pharma sold shares worth over Rs 1,024 crore through a block deal on Tuesday, with domestic mutual funds emerging as the buyers. According to NSE block deal data, Ravi Agrawal Trust sold 34.5 lakh shares of Ajanta Pharma at Rs 2,968 per share. The transaction was valued at about Rs 1,024 crore.

Godrej Properties
Godrej Properties on Tuesday said it has sold more than 1,000 apartments in Bengaluru for Rs 2,000 crore in its newly-launched residential project. The project, spread over 36 acre, has a total developable area potential of 3.53 million sq ft and an estimated revenue potential of Rs 3,700 crore.

Vedanta
Billionaire Anil Agarwal’s Vedanta Resources is set to refinance $5.2 billion of US dollar bonds and loans, Bloomberg reported, as it seeks to lower borrowing costs by replacing expensive debt after securing credit-rating upgrades.

Welspun Corp
Welspun Corp's arm, Welspun Mauritius Holdings, has divested 4.5% equity stake in East Pipes Integrated Company for Industry (EPIC), Kingdom of Saudi Arabia (KSA), in favour of identified financial investors
through a series of negotiated trades on the Tadawul Stock Exchange for an aggregate consideration of $75.59 million.

Dixon Technologies
Dixon Technologies, Gemtek Technology and Dixon Electroconnect, wholly owned subsidiary of Dixon, entered into a binding term sheet for setting up a joint venture arrangement, through a mutually agreed structure between Dixon and Gemtek

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)